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financial book recs for kids

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  • financial book recs for kids

    When I was a kid, my grandpa offered to give every grandkid $100 if they read "Millionaire Next Door" and "The Richest Man in Babylon".  It was a great exercise and learning experience for me.  It's been a while since I read these books.  I would like to do the same for my kids, but am wondering what recommendations are out there for 10-14 year old kids that teaches the importance of savings, living below their means, and overall good financial habits.  Any thoughts on these 2 books or other suggestions as it relates to 10-14 year olds?

  • #2
    You might consider both “Annie’s Adventures” by Lauren Baratz-Logsted and “The Lemonade War” by Jacqueline Davies.

    While tweenagers are beginning to read for practical purposes at this age, they are *very* impressionable and the most effective education for them may be experiential. So, if you are thrifty, take them shopping. If you are industrious, show them how you make money. If you are philanthropic, tell them about the social problem you are passionate about and ask them how they might use money to solve it.

    At this age, your greatest investment in a child is the time you spend with them.

    Physician Family Financial Advisors Inc.

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    • #3
      My step-dad was the primary person in my family who bestowed financial wisdom on me. He suggested that I read The Millionaire Next Door, but the most influential things that he taught me were when we were working together on his rental properties. He taught me about the rule of 72, which made the biggest impression on me. However, it wasn't for another few years until I became interested in investing. I agree with Ben Utley, the greatest investment of your resources in a child's life is to spend time with them. Your financial knowledge and habits will make an indelible impression on them just by watching you, they might even ask questions about finances. I didn't become interested in them until after I got married, but the lessons that he taught me remained intact.

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      • #4
        Here are some books that I would recommend that you might like for yourself and your kids.
        For the kids:
        Who Mived my cheese? Spencer Johnson
        Get A Financial Life by Beth Kibliner
        The Ultimate Gift by Jim Stovall
        The Gift of Nothing by Patrick McDonnell
        The Number by Lee Isenberg
        A Philosophers Notes by Brian Johnson
        For you:
        Raising Financially Fit Kids by Joline Godfrey
        Silver Spoon Kids by Eillen Gallo

        Happy Reading!

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        • #5
          I believe that financial decisions are really nothing more than ordinary decisions that happen to involve money, so I started teaching my kids to make their own decisions when they were four years old. For an excellent read on this topic, check out “Parenting with Love and Logic” by  Foster Cline and Jim Fay.

          Physician Family Financial Advisors Inc.

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          • #6
            The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money by Ron Lieber is our new baby gift for clients.
            Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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